Why Ford Motor Company Stock Is Higher Today

Shares of Ford Motor Company (NYSE: F) were moving higher on Wednesday after a prominent Wall Street analyst noted that the company's electric Mustang Mach-E is on track to outsell a key rival in 2021.

As of 12:45 p.m. ET, Ford's shares were up about 5.1% from Tuesday's closing price.

In a new note on Wednesday morning, Morgan Stanley analyst Adam Jonas noted that Ford sold 21,703 Mustang Mach-Es in the U.S. through October. That number trails the sales total for the Chevrolet Bolt EV from old rival General Motors (NYSE: GM) through the period, but there's a twist: According to a Detroit News report, Jonas wrote, GM has decided to halt production of the Bolt through the end of 2021 while it works through a massive recall of Bolts for defective battery packs.

Source Fool.com